At a time of sticky inflation and a softening job market, extra money in the bank can serve as a lifeline for many consumers. Yet 8 in 10 Americans did not increase their emergency savings this year, a new Bankrate survey found, leaving them in no better financial position to…
While the top ten largest credit unions still hold significantly less in assets than even the top five largest banks, they have been growing considerably in recent years. Just within the last five years, total assets in federally insured credit unions have risen by approximately 45 percent over the past…
Key Takeaways: Transition Challenges: Veterans face unique financial challenges when transitioning from military to civilian life, including employment hurdles, healthcare costs, and housing instability. Employment and Economic Stability: Despite strong leadership skills, veterans often encounter unemployment or underemployment due to skill mismatches. Support from programs like VETS and the GI…
Key takeaways Most unemployment payment delays happen due to missing information, fraud checks, or system backlogs. You can often fix the issue by verifying your ID, submitting missing documentation, or updating your payment profile. While you wait, contact lenders to negotiate temporary relief and use savings accounts or short-term loans…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Historically Black colleges and universities are on the frontlines of the One Big Beautiful Bill Act’s new limits on parent…
The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
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Reaching age 65 doesn’t automatically change how the IRS taxes your 401(k) withdrawals. Instead, it taxes distributions from a traditional 401(k) as ordinary income, just like wages or Social Security benefits. Your tax rate depends on your total taxable income and filing status in the…
Dept Managmnt
The Downsides of Credit Card Churning and Why It Is Risky You may be asking yourself, “Those benefits sound great, why is credit…
Banking
The fundamental flaws in the way the Federal Reserve operates these days were on full display Wednesday when Jerome Powell talked to the…
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Smart Shopping for School Supplies and Clothes Buy only the essentials immediately, and purchase remaining items as last year’s supplies are used up. This approach avoids paying full price for things you don’t immediately need and allows you to take advantage of sales later. Hold off on buying new backpacks,…
Alina Rudya/Bell Collective/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways American Express Membership Rewards points are a popular rewards currency that can be earned through eligible Amex credit cards. These points can be redeemed for travel, gift cards, merchandise, statement credits or transferred to airline and hotel partners for potentially higher…
Regulation Best Interest, or Reg BI, is a series of rules from the Securities and Exchange Commission (SEC) that govern how broker-dealers and financial advisors must treat their customers. Specifically, it says that these entities must act in the best interests of their client — which sounds clear enough —…
Key takeaways It’s a good idea to have more than one credit card, but applying for multiple cards within a short period of time could hurt your credit score. If you apply for too many credit cards within a brief period, issuers might see you as a risky borrower. It’s…
Key takeaways Passive income can help you build wealth in addition to a main job, as a supplement to your retirement savings or even as a full-time gig after a while. Ideally, passive income does not involve any extra work, but you do have choices that involve work upfront and…
Key takeaways Financing an established business can be easier than starting a new venture. Business acquisition loans rely on your personal financial capacity and the historical performance of the business you are purchasing to determine eligibility. Personal funds, seller financing and private equity or venture capital are alternative ways to…
Key takeaways Life insurance may help provide financial support for the long-term care of children with special needs or disabilities. In some cases, a special needs trust can protect a child’s assets and serve as the life insurance beneficiary. Permanent insurance, such as whole life, provides coverage that will remain…
Key takeaways A mortgage preapproval is a statement of how much money a lender is willing to let you borrow to pay for a home. There are several important steps in the preapproval process, such as shopping around for lenders and gathering financial documents. Getting a preapproval makes it more…
Photography by Getty Images Key takeaways The Bank of America® Premium Rewards® credit card may not be the strongest option for travel enthusiasts, but it benefits existing Bank of America customers in the Preferred Rewards program. The card has a $95 annual fee and offers unlimited 2X rewards on travel…
Morsa Images/Getty Images Robo-advisors are a great option for investors who are looking to automate the investment management process at a cost below that of traditional financial advisors. Fortunately, there are robo-advisors that offer the best of both worlds, including some that offer access to certified financial planners (CFPs). Here’s…
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